股市流动性月报：基金仓位震荡提升，北上资金流出放缓

Group 1 - The report indicates that there are signs of improvement in stock market liquidity in July, despite a slight decrease in trading activity in the secondary market and continued low issuance of equity funds [2][3] - In July, the total amount raised in the primary market was 18.9 billion yuan, with IPOs raising 4.4 billion yuan, a decrease of 16.31% month-on-month [13] - Major shareholders in the secondary market showed a slight net reduction in holdings, with a net decrease of 0.8 billion yuan in July, compared to a net decrease of 1.1 billion yuan in the previous month [16] Group 2 - Northbound capital experienced a slight net outflow of 16.6 billion yuan in July, which is a decrease of 27.8 billion yuan compared to the previous month [33] - The report highlights that the sectors with the highest proportion of Northbound capital holdings in July were household appliances, electrical equipment, food and beverage, non-ferrous metals, and the automotive industry, with respective proportions of 10.8%, 7.0%, 4.8%, 3.8%, and 3.6% of the total A-share market value [35][38] - Foreign capital continued to prefer investments in electrical equipment, food and beverage, and banking sectors, while increasing holdings in non-bank financials, public utilities, and defense industries [38][39]